Rita takes a loan of $45580 at a rate of 4% for one year. After one year, the simple interest will be $1823.20.
Rita will pay the interest of $1823.20 after one year. Option D will be the correct answer.
What is the meaning of simple interest?
Simple interest is based on the principal amount of a loan. This can be calculated by the formula given below.
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Where P is the principal amount, R is the interest rate and T is the time interval.
Given that the principal amount is $45580 for the interest rate of 4%. Rita took the loan for a time period of one year. After one year, the simple interest will be,
\(SI = \dfrac {45580\times 4\times 1}{100}\)
\(SI = 1823.2\)
Hence we can conclude that the simple interest after one year is $1823.2. Option D is the correct answer.
To know more about the simple interest, follow the link given below.
https://brainly.com/question/2793278.
